Mumbai: Income tax department concludes searches on Hiranandani Group

The searches covered 24 premises in multiple cities, including Mumbai, Bengaluru and Chennai. The tax agency is probing Group’s foreign assets and the undisclosed offshore investment in a trust.

Staff ReporterUpdated: Sunday, March 27, 2022, 10:08 PM IST
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The Income Tax (I-T) Department's searches and survey at the premises linked to the Hiranandani Group concluded on Sunday.

The I-T officials on March 22 had carried out searches at multiple premises linked to the popular builders Hiranandani Group.

The searches covered 24 premises in multiple cities, including Mumbai, Bengaluru and Chennai. The tax agency is probing Group’s foreign assets and the undisclosed offshore investment in a trust.

"The I-T search (and survey) is concluded on Sunday. We have fully cooperated with the authorities and handed over everything that they asked from us. We find that the department entrusted with information gathering had differing opinions of tax treatments on various transactions. We shall suitably address any issues and conclusions drawn once finalized by the tax department and respond accordingly," said a Hiranandani Group company spokesperson.

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